Turkish energy minister says natural gas contracts should not be based on oil prices

ANKARA (A.A) - February 22, 2012 - Turkish energy minister said on Wednesday that natural gas contracts should not be based on oil prices. Energy and Natural Resources Minister Taner Yildiz said at a gathering in Ankara that natural gas contracts based on oil prices created an increase in cost. "We will bring up the matter (during our visits) in Russia and other countries," he said. But a solution on the matter could not be reached only with Turkey's initiative, Yildiz said and added all importing countries should hold negotiations on the issue.